this post was submitted on 28 Jan 2025
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Y'all know why the US is freaking out about Chinese innovation? Because America decided stock prices were of the utmost importance and stopped innovating a long time ago. They really only pissed off because China is playing a different game (the game we originally stomped them at) and kicking our asses in the process. Maybe if we stopped playing the market and started making good shit again, we'd have less to complain about.
Incidentally, a very fun read on the dynamics behind the whole thing https://americanaffairsjournal.org/2021/08/the-value-of-nothing-capital-versus-growth/
That site seems to be down. https://web.archive.org/web/20241223232809/https://americanaffairsjournal.org/2021/08/the-value-of-nothing-capital-versus-growth/
“In today’s America” nothing: the oligarchs wrote the constitution over two centuries ago, so their ascendancy is baked in.